Quanta Services, Inc. (NYSE:PWR) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,048 shares of the construction company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Quanta Services were worth $12,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Geneos Wealth Management Inc. boosted its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the last quarter. Commonwealth Financial Services LLC lifted its holdings in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the period. HB Wealth Management LLC boosted its position in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PWR shares. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Up 1.4 %

Shares of Quanta Services stock opened at $253.20 on Thursday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a market capitalization of $37.52 billion, a PE ratio of 41.99, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a 50-day moving average of $306.07 and a 200-day moving average of $305.76.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.